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401(k) PLAN
Cash or Deferred Arrangements

 

Profit sharing plan limitations apply

Employees may elect to receive employer contributions in cash or defer into plan, or

Plan may allow employees to contribute by payroll deduction on a pre-tax basis through a salary reduction agreement

Employer may match employee salary reductions

In service withdrawals allowed only upon demonstration of "financial hardship"

Assets are held in tax-exempt trust and invested by Trustees in stocks, bonds and short-term cash management

Employees bear investment risk